Equity indices gain as global mood calms, Tata Motors up 3 pc
Jul 29, 2021
Mumbai (Maharashtra) [India], July 29 : Equity benchmark indices were in the green zone during early hours on Thursday after three days of selloff as the global mood stabilised following reports that Chinese securities regulator has stepped in to assuage investor concerns over tech crackdown.
At 10:15 am, the BSE S&P Sensex was up by 216 points or 0.41 per cent at 52,660 while the Nifty 50 moved up by 65 point or 0.43 per cent to 15,774.
Sectoral indices were mixed with Nifty metal surging by 1.7 per cent, IT by 1 per cent and realty by 0.5 per cent.
Among stocks, Tata Motors accelerated by 3.1 per cent to Rs 293.20 per share. Metal majors JSW Steel, Hindalco and Tata Steel were up by 2.2 per cent, 2.1 per cent and 1.5 per cent respectively.
HCL Technologies, Tech Mahindra, Tata Consultancy Services, HDFC Bank and Titan too traded with a positive bias. However, Maruti Suzuki lost by 2.8 per cent, Cipla by 1.1 per cent and Nestle India by 0.7 per cent.
Meanwhile, Asian shares stabilised as China's Securities and Regulatory Commission (CSRC) on Wednesday night held a meeting with executives of top global investment banks with an aim to calm financial markets nerves.
The online meeting followed a brutal sell-off in shares of Chinese companies this week after investors were spooked by Beijing's rules published over the weekend that ban for-profit tutoring in core school subjects.
Hong Kong's Hang Seng surged by 2.7 per cent while Japan's Nikkei gained 0.7 per cent on upbeat corporate earnings. South Korea stocks were flat as investors awaited next catalyst.
